Banco Alas Cooperativo Limitado was a commercial bank based in Buenos Aires, Argentina.
Inaugurated in 1979, Banco Alas became one of the first to offer ATM services in the country.
[1] The bank prospered initially, growing to include 76 branches, and over 1,200 employees.
CEO Carmelo Stancato and Executive Vice-president Jorge Gaspar Duchini were convicted on September 9, 1988, of defrauding the Central Bank; as part of the plea bargain with Federal Prosecutor Patricio Evers, a probationary sentence was issued in return for their reimbursement of half the funds.
[5] Attorneys for Stancato and Duchini unsuccessfully filed motions in Federal Court in 1997 and 2005 to have ongoing trials against them dismissed on grounds of expiration of statute of limitations.